Ge Honglin, mayor of Chengdu, speaks to the 4th ICS in Chengdu,

capital city of Sichuan Province, on December 8, 2008.

The 4th International Cooperation Summit for Asia-Pacific CEOs & Provincial Governors and Mayors (ICS) opens on Monday in Chengdu, capital of southwest China’s Sichuan Province.

Seven months after the 8.0-magnititude earthquake hit Sichuan, the ICS is being held in Chengdu with the particular aim of rebuilding investors‘ confidence in the local economy, promoting key projects to stimulate domestic demand, and building an information exchange channel between local government authorities and worldwide business leaders.

Huang Xiaoxiang, vice governor of Sichuan, told the opening ceremony that the earthquake did severe damage to the local economy. However, as central government implements a string of policies in favor of post-quake reconstruction, Sichuan has been presented with a new opportunity for broad-based development to its economy. In the next three years, he said, the provincial government will earmark some 3 trillion yuan to boost the local economy. Of this money, 1.7 trillion will be used to rebuild quake-stricken areas.

Also during the opening ceremony, Ge Honglin, mayor of the host city, expressed his gratitude for the help rendered to Chengdu during the earthquake by the rest of the world. Thanks to its specific geological structure, he said, Chengdu was not as severely damaged as other nearby areas. Its local economy has succeeded in maintaining a healthy forward momentum. By 2010, Mr. Ge said, 1.2 trillion yuan will be invested to promote post-quake reconstruction projects, including improvements in public living standards, construction of infrastructure, and industrial upgrading. The Chengdu government is determined to provide the best possible service to investors from home and abroad. To date, 128 of the World’s Top 500 enterprises have set up offices in Chengdu.

The 4th ICS also welcomed the presence of Dominique de Villepin, former prime minister of France, and Christian Quesnot, global vice chairman of the Asia-Pacific CEO Association.